The focal year-end for Mason's Landscaping and Snow Removal is December 31 Record the adjusting entries for ember 31, 2021. Note: It is helpful to recind the original transactions for account haluces) in your own rough meters as part of your analysis and calculations of year-md adjusting entries. Tacounts can be very useful for doing this. However, the only entries that should be recorded in the journal for this assignment are the December 31 adjusting entries The accounts in Mason's ledger are Bank Service Fees Earned Accounts Receivable Ameribapenes Allowance for Doubtful Accounts Rent Expense Supplies Insurance Agence Prepaid Insurance Supplies Expense Prepaid Rent Office Spee Truck Equipment Furniture Maintenance Accounts Payable Truckspele Wages Payable interest pense Berest Payable Rad Debts Expense Acumulated Amortization Wages Expense Uneared Service Fees Bank Loan Mason, Capital Masen, Drawing 1. On July 1, 2021, a customer signed a contract and agreed to pay $840 for 12 months of landscaping and now removal wervice. Record the adjusting entry way 2. The balance in the Supplies account at the end of the year is 51200. A physical count of the supplies shows that there is $300 worth of supplies on December 31 Record the adjusting entry only 3. Masin pre-paid for six months of rent for a garage beginning October 1. 2021. Record the adjusting entry only 4A 12-month Insurance policy was purchased on March 1, 2021 for $2.400. Record the adjusting entry only 5. Two Invoices were received on January 2 2022 that related to some expenses from December. The expenses were for Maintenance (5450) and for repairs to the Truck (5810). Record the adjusting entry only & Interest on the Bank Loan Is Sper year. The value of the Bank Loan is 8500 Record the adjusting entry for the month of December's cordes 7. The office furniture was purchaud May 1, 2021 to $1000. Its estimated weful life is 10 years and salvage value is $1700. Acesses straight-line amortisation for the furniture Record the adjusting entry 1. The 530000 equipment is being amortized using declining balance method anda 30% rate. There la Accumulated Depreciation on tof 514700. Record the adjusting entry 9. Uncollectible accounts are estimated at 5% of accounts receivable. Accounts Receivable total $3400 and the Allowance for Doubtful accounts contains $100 Record the adjusting entry 10 Unbled customer accounts total 52000 at the end of December. Prepare the Adjusting entry 11. Employee wages for the two week period (10 days) ending Jan 9, 2022 are $3400. Employees worked 3 days in December Rent The fiscal year-end for Mason's Landscaping and Snow Removal is December 31. Record the adjusting entries for December 31, 2021. Note: It is helpful to record the original transactions (or account balances) in your own rough notes as part of your analysis and calculations of year-end adjusting entries. T- y accounts can be very useful for doing this. However, the only entries that should be recorded in the journal for this assignment are the December 31 adjusting entries. The accounts in Mason's ledger are: Bank Service Fees Eamed Accounts Receivable Amortization Expenses Allowance for Doubtful Accounts Expense Supplies Insurance Expense Prepaid Insurance Supplies Expense Prepaid Rent Office Expense Truck Equipment Furniture Maintenance Expense Accounts Payable Expense Wages Payable Interest Expense Interest Payable Bad Debts Expense Accumulated Amortization Wages Expense Uneared Service Fees Bank Loan B. Mason. Capital B. Mason, Drawings 1. On July 1, 2021, a customer signed a contract and agreed to pay $840 for 12 months of landscaping and snow removal services. Record the adjusting entry only. 2. The balance in the Supplies account at the end of the year is $1200. A physical count of the supplies shows that there is $300 worth of supplies on December 31. Record the adjusting entry only 3. Mason pre-paid $800 for six months of rent for a garage beginning October 1, 2021. Record the adjusting entry only Track 4. A 12-month insurance policy was purchased on March 1, 2021 for $2400. Record the adjusting entry only. 5. Two Invoices were received on January 2 2022 that related to some expenses from December. The expenses were for Maintenance ($450) and for repairs to the Truck ($810). Record the adjusting entry only. 6. Interest on the Bank Loan is 5% per year. The value of the Bank Loan is $8500. Record the adjusting entry for the month of December's accrued interest. 7. The office furniture was purchased May 1, 2021. It cost $8000. Its estimated useful life is 10 years and salvage value is $1700. Ace uses straight-line amortization for the furniture. Record the adjusting entry. 8. The $30000 equipment is being amortized using declining balance method and a 30% rate. There is Accumulated Depreciation on it of $14700. Record the adjusting entry. 9. Uncollectible accounts are estimated at 5% of accounts receivable. Accounts Receivable total $3400 and the Allowance for Doubtful accounts contains $100. Record the adjusting entry. 10. Unbilled customer accounts total $2000 at the end of December. Prepare the Adjusting entry. 11. Employee wages for the two-week period (10 days) ending Jan 9, 2022 are $3400. Employees worked 3 days in December
